Sesame Bankhall Group has appointed LiveMore Capital to its panel of lenders.
The move will provide Sesame Network and PMS Mortgage Club members with access to mortgages specifically designed for borrowers aged 50 to 90 and above.
LiveMore currently offers a range of fixed rate interest-only mortgages with terms of five, seven, 10 or 20 years. as well as a fixed for life retirement interest-only (RIO) product.
When placing business with LiveMore, Sesame and PMS brokers could earn an ongoing procuration fee of 0.13% either for every year for 15 years or the life of the mortgage, depending on which is shorter.
“Sesame Bankhall Group is one of the largest distributors in the country and I’m so pleased its Sesame and PMS brokers can now access our products for people aged 50 to 90+,” said LiveMore managing director of sales, Alison Pallett.
“This part of the market is underserved with this age group often being told they are too old for a mortgage, which is incorrect in many cases. We take into account all income, not just salary, and people are over the moon when they find out they can take out an affordable mortgage.”
Sesame Bankhall Group strategic relationship director, Stephanie Charman, added: “Over recent years the later life lending sector has seen significant growth and this trajectory is set to continue. We are delighted with the addition of LiveMore to our Sesame and PMS panels.
“Their innovative product proposition supports our members in providing a wider set of product solutions when reviewing a customer’s lending needs into later life.”
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